Laurik, a unique health elevator brand, which uses coconut derivative and provides the right nutrients in a shot, today announced that it has raised a funding amount of Rs 37 million while just in its ideation stage.
The funding round was led by marquee investors like Murthy Aradhi, co-founder at FastCollab and Lakshmikant PB, Director of Finance at Antler, an early-stage venture capital firm.
Laurik’s unique product has also received recognition from the Telangana government and T-Hub as they recently provided the startup with a fund through the T-Fund program, it said in a statement.
Laurik is a D2C nutraceutical startup that claims to produce the World's first Lauric enhanced coconut shots. It was founded in 2020 by Lavanya Sunkari and supported by Archana Chindam to improve long-term health and well-being of the people.
Sunkari, who is the Founder and Chief Executive Officer of Laurik is a serial entrepreneur with over 15 years of experience in brand building and strategies for established multi-national brands. She is also a certified nutrition expert from Stanford and the American Council on exercise. Archana Chindam who joined Laurik as the Co-founder and Chief Operating Officer, is a serial Food and Agritech entrepreneur and passionate about improving the health through better nutrition.
Sunkari said, “The goal of Laurik is to work towards empowering people to invest in a healthy lifestyle by providing them with a comprehensive blend of ingredients with well-researched benefits. Being recognized by the Clean Label Project™ as one of few companies in the world for creating clean products, validates our mission to unlock the power of nature with exceptional innovation to make products that are healthier, and safer for daily consumption.”
The Indian market for plant-based nutraceuticals is witnessing robust growth following the outbreak of the COVID-19. Indian nutraceuticals market is expected to grow at a CAGR of 15.00 percent in the forecast period of 2022-2027. The startup aims to capture this growing market and use these funds primarily to strengthen research and development, expand the team size and scale its go-to-market operations. It will also use the funds for marketing its products and launching new product categories in the coming months, it said in a press statement
The Clean Label Certification from the Clean Label Project™ is a testament to the startup’s philosophy of being 100 per cent natural. Laurik provides a range of health shots that caters to haircare and skincare, which naturally improves the skin, hair, and overall health. Currently, there are 12 types of Laurik shots for both men and women. The startup soon plans to launch its products across several e-commerce platforms as well as supermarkets.